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Verify My Notice LetterThis case file references a public filing made with the state filing in MA. This website is not affiliated with, endorsed by, or operated by any state government agency.
Raymond James was the subject of a data breach notification filed with the MA Attorney General. The AG filing was recorded on June 13, 2025.
From the AG filing description
Raymond James operates as a prominent financial services firm and wealth management institution, guiding individuals, families, and corporations through comprehensive investment portfolios, financial planning, asset management, and banking services. Because of the core nature of its operations, the firm routinely collects, processes, and maintains vast quantities of deeply sensitive personal, financial, and confidential information. Clients entrust Raymond James with their life savings, tax identification data, account histories, and corporate financial records to facilitate wealth building, trading, and retirement planning. This dense centralization of high-value personal and financial data inevitably turns the institution into a prime target for sophisticated cybercriminals and malicious threat actors seeking to monetize stolen identities and financial assets. In 2025, security reports filed with the Massachusetts Attorney General revealed that Raymond James experienced a significant data security incident, compromising the digital infrastructure utilized to store and manage confidential client and employee records. While exact vectors vary across complex financial networks, data breaches of this magnitude typically involve sophisticated cyberattacks, unauthorized entry into internal databases, or vulnerabilities introduced through third-party vendor integrations. Financial institutions maintain intricate digital ecosystems composed of legacy financial software, customer relationship management platforms, and cloud storage repositories, any of which can present entry points for bad actors determined to bypass perimeter defenses and exfiltrate sensitive files. The exposure resulting from this security incident threatens individuals with severe, compounding risks of financial fraud and identity theft. The types of compromised information in financial sector breaches routinely include full names, Social Security numbers, dates of birth, financial account numbers, routing numbers, and detailed transaction histories. When malicious actors obtain Social Security numbers paired with financial account and routing data, they gain the capability to execute unauthorized wire transfers, drain investment accounts, open fraudulent lines of credit, and intercept tax refunds. This level of exposure strips away financial privacy, subjecting victims to years of credit monitoring burdens, collection agency stress, and the arduous process of untangling fraudulent financial activity. As a regulated financial institution handling non-public personal information, Raymond James was bound by strict statutory and regulatory mandates to secure and protect client data. Under the Gramm-Leach-Bliley Act (GLBA) and applicable Massachusetts state data protection laws, financial entities must implement rigorous administrative, technical, and physical safeguards—such as multi-factor authentication, continuous network monitoring, robust encryption protocols, and regular penetration testing—to prevent unauthorized access. The occurrence of a data breach capable of exfiltrating sensitive consumer data strongly suggests a potential failure to maintain these federally mandated cybersecurity standards, raising serious questions regarding whether the firm neglected adequate security measures. Receiving a data breach notification letter from Raymond James serves as a formal legal acknowledgment that your private financial information was compromised due to corporate security shortcomings. Legally, this notification confirms that your data was exposed, which establishes the necessary standing to participate in a class action lawsuit aimed at holding the institution accountable. Affected individuals do not need to prove that financial loss has already occurred to seek legal recourse; the increased risk of future identity theft and the loss of data privacy are actionable injuries under the law. Our firm evaluates and investigates these data breach claims on a contingency fee basis, meaning you pay zero out-of-pocket costs and owe attorney fees only if we successfully recover compensation on your behalf.
Under the Massachusetts Data Security Law (201 CMR 17.00), you may have a legal claim against Raymond James if any of the following apply:
Based on the data types reported in this filing:
Your SSN is the master key to your identity. Once exposed, criminals can open new lines of credit, take out loans, or file taxes in your name.
Combined with a name and other leaked data, date of birth helps criminals pass identity verification questions at banks and government agencies.
Common categories of compensation in data breach class actions
Courts recognize that the time spent monitoring accounts, placing credit freezes, and dealing with the aftermath of a breach has real economic value. This category of damages is recoverable even without direct financial loss.
Professional credit monitoring services cost $10–$40 per month. Identity theft restoration services, if needed, can cost hundreds of hours and thousands of dollars. Courts have awarded these costs as direct damages in SSN breach cases.
Direct financial losses resulting from the breach — unauthorized charges, fraudulent transfers, or fees incurred through fraud — are recoverable as compensatory damages. Banks may reverse some charges; a class action recovers the remainder and associated costs.
Several state data breach laws provide for statutory minimum damages — fixed amounts recoverable per affected individual regardless of actual loss. These provisions exist specifically to make legal action viable for victims who have not yet experienced direct harm.
Note: an attorney general breach filing does not by itself establish a settlement fund, a payment amount, or a claim deadline. If an official settlement notice is later issued, rely on that notice for payment details and deadlines.
No. Under Massachusetts Data Security Law (201 CMR 17.00) and federal law, the unauthorized exposure of your personal data — regardless of whether it has been actively misused — can be sufficient grounds for a claim. The breach itself is the injury.
Nothing. The Law Office of David S. Harris handles data breach cases on contingency — you pay zero upfront and owe nothing unless compensation is recovered.
Immediately place a free credit freeze at all three bureaus (Equifax, Experian, TransUnion). A freeze blocks new accounts from being opened in your name. Then file a complaint with the FTC at IdentityTheft.gov and contact our office — SSN exposure is one of the most serious breach types.
Banks may reverse fraudulent charges, but they are not obligated to compensate you for time lost, stress, or indirect damages. A class action claim against the breached company can recover those additional categories of harm.
Statutes of limitations for data breach claims vary by state but typically run 2–4 years. Depending on when you learned of the breach, you may still have time. Contact our office for a free eligibility review — there is no cost to find out.
Accepting free credit monitoring from Raymond James does not waive your right to pursue legal action unless you signed a specific release waiving claims. In most cases, victims who accepted monitoring can still file.
Not necessarily. Many data breach victims are never notified directly. If your personal information was held by Raymond James during the relevant period, you may still qualify even without receiving a letter. A free eligibility review can confirm your status.
Applicable State Law
This breach was reported under the Massachusetts Data Security Law (201 CMR 17.00), which mandates notification and establishes your right to seek damages.
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